Monday Market Commentary: Mortgage Rates Steady

by Alex Stenback on July 16, 2007

July_16_rates
                                                                           Graphic Via MSNBC
Last Week:
A wild week in the stock market and a quiet economic calendar caused some volatility in mortgage bonds as money flows drove prices (and rates) hither and yon.  Net, net, at the end of the week, rates were unchanged. A weak retail sales report and strong consumer confidence number effectively cancelled each other out.
This Week:
A few items of note on the calendar: Fed Meeting minutes, producer and consumer inflation measures, and manufacturing data will carry the most weight in what could be a volatile week.  There’s also some technical factors that may impede any significant improvement in rates this week, as mortgage bond prices are hovering just below the 25 day average.
ยท This Week’s Economic Calendar [barrons]

{ 1 comment… read it below or add one }

Brandan July 16, 2007 at 2:15 pm

Those readers interested in your mortgage commentary may also be interested in a poll we’ve posted asking how the upheaval in the subprime market has affected business. Those likely to answer the poll are mortgage brokers, but others in the industry are welcome to answer. The poll is currently open for votes: blog.directmortgagewholesale.com

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